Fact blast: China’s 2024 trade destinations, quantity, value, traits and post-tariff loss forecast

China has topped the aluminium production for the past few years. An aluminium production cap to curtail overcapacity and emissions, a cumulative tariff of 145 per cent on Chinese aluminium articles entering the US imposed phase by phase, or bauxite import restrictions from multiple prime destinations have hit China’s ambitious industrial boom several times. However, the free flow of trade expansion is far from being curbed.

Of the total trade of aluminium worldwide in 2024, which was 13.68 million tonnes valued at USD 39.46 billion, 51.46 per cent was occupied for export of plates, sheets and strip exports, accounting for over 7 million tonnes. Meanwhile, foil exports contributed 23.41 per cent (3.2 million tonnes) to the total export number. Bars and rods were next at 16.31 per cent of outbound trade, with an export quantity of 2.2 million tonnes. The rest of the exports were 745 thousand tonnes of unwrought (5.11 per cent), 295 thousand tonnes of pipes and tubes, 88 thousand tonnes of wire and 77 thousand tonnes of tube or pipe fittings.

According to International Trade Administration published data, among the 224 listed countries that have imported aluminium in one form or the other from China during CY 2024, Mexico tops the list, importing various aluminium products in a whopping quantity of over 662 thousand tonnes (value USD 2.21 billion) during the stipulated time period, followed by South Korea, who imported 509 thousand tonnes (value USD 1.78 billion) of aluminium from China.